#USA #Senior Notes #Miami Beach #GFL Environmental #SECURE Waste

GFL Environmental Inc. Announces Senior Notes Offering

Introduction
GFL Environmental Inc., a prominent player in the North American environmental services sector, has recently disclosed the pricing of its private offering of senior notes. The company aims to raise a substantial amount of $750 million through this initiative, which is expected to enhance its financial stability and support ongoing growth initiatives.

Details of the Offering
The offering consists of senior notes due in 2031, with a stated coupon rate of 5.625%. However, when factoring in cross-currency interest rate swaps, the effective rate is projected to be approximately 4.500%. These notes will be issued by a U.S. subsidiary of GFL and will also be guaranteed by the parent company along with certain other subsidiaries. This strategic financial maneuver positions GFL to optimize its debt profile and maintain a responsible leverage ratio, aimed to stay in the mid 3.0x range.

Utilization of Proceeds
The funds collected from this offering are earmarked for several critical purposes. Primarily, they are intended to repay amounts drawn from the company’s revolving credit facility. Additionally, these proceeds will contribute towards managing fees and expenses related to the company’s upcoming acquisition of SECURE Waste Infrastructure Corp. This acquisition is part of GFL's ongoing strategy to expand its footprint and capabilities across the environmental services industry.

By strengthening its liquidity position through this offering, GFL aims to facilitate not only this acquisition but also other growth initiatives that could arise in the near future. The company recognizes the importance of maintaining a robust liquidity position to capitalize on market opportunities and enhance shareholder value.

Forward-Looking Statements
This announcement includes forward-looking information, indicating GFL's expectations and projections for future performance. Statements regarding financial guidance, growth strategies, and operational targets serve to provide insight into the company's path forward. However, the nature of these forward-looking statements comes with inherent risks and uncertainties.

The anticipated results may differ significantly from what is projected due to various factors, including changes in market conditions, regulatory environments, and the overall economic landscape. GFL is committed to transparency and encourages stakeholders to review its risk factors outlined in its periodic filings to fully understand any potential impacts on its business and financial health.

Company Overview
GFL Environmental Inc. stands as the fourth largest diversified environmental services company in North America, operating through a network of facilities spread across Canada and 18 U.S. states. With a workforce exceeding 15,000 employees, GFL is dedicated to providing comprehensive solid waste management services, thereby playing an essential role in the sustainability efforts of the regions it serves.

Conclusion
As GFL Environmental Inc. navigates the complexities of the environmental services market, this recent senior notes offering exemplifies its proactive approach to securing financial resources necessary for future expansions and operational efficiencies. Stakeholders and investors alike are encouraged to stay informed about GFL's progress in these initiatives as the company continues to position itself as a leader in the environmental services sphere.